Stocks Pause on Christmas Eve…GPRO Soars…Biotechs Finds Support, Bounce…Merry Christmas
Three of nine sectors moved higher on Wednesday…XLU, XLV and XLI were the strongest sectors and XLE was the weakest.
Breadth was mixed as decliners led advancers 1.06 to 1 onthe NYSE and advancers led decliners 1.42 to 1 on the NASDAQ.
Wednesday – mixed, mixed
Tuesday – mixed, advancers led
Monday – strengthened, advancers led
Friday – weakened, advancers led
Thursday – weakened slightly, advancers led
SPY up .02 at 207.77 on 38.3 million shares
VIX down .43 at 14.37…
TNX up .07 at 22.64…
TLT up .68 at 123.95...
XLF down .04 at 24.95 on 7.9 million shares
AAPL down .53 at 112.01 on 14.4 million shares
FB up .16 at 80.77…on 7.6 million shares
Technical Commentary:
IWM +0.29%, QQQ +0.09%, SPY +0.01%, DIA +0.00%.
Enjoy the Christmas holiday on Thursday as the markets will be closed. Be safe and enjoy the celebration with your loved ones.
The SPX closed near unchanged in a half day of trading. The SPX was led by gains in CELG, NEM, ABBV, AEE, GAS SCG, NU, NI, CMS and XEL.
Gains in biotech/medical stocks CELG, GILD, AMGN, ALXN, REGN, BIIB, ILMN and VRTX helped lift theQQQ. The NDX formed a dark cloud cover.
GPRO +4.87, +7.91%, considered by some the Christmas product of 2014 soared on Christmas eve.
CAR and ESRX paused after horizontal breakouts on Tuesday creating potential second chance entry opportunities.
Look for new high horizontal breakout setups in stocks that are up trending or reversal breakouts from stocks that recently pulled back.
AAL, EA and LRCX were added to the NDX on Monday.
Trade with the trend of the chart you are trading and continue to move your profit protection stops. Continue to follow your rules.
Short-term Chart Targets:
SPY = 207.33, 209.06, 210.49…
QQQ = 106.94…
IWM = 118.25, 119.37, 121.27…
Support Levels
SPY = 200.06…
QQQ = 102.42, 101.38…
IWM = 114.37, 113.35…
Q3 Earnings Reaction
Positive Reactions – ADBE, CIEN, LULU, AVGO,ADI, HPQ, PANW, QIHU, ADSK, JASO, ROST, SPLK, GOGO, RAX, NTES, XONE, YOKU, VJET, BABA, MNST, WFM, ABC, ACI, AMGN, BIDU, BWLD, CBOE, CLF, CLX, CNX, EA, ESRX, EQIX, EXPE, FISV, GLW, GPRO, GRPN, GT, HSY, JCI, JDSU, LNKD, LVLT, MA, MAR, MO, MTW, MYL, PCAR, FE, SCHN, STX, SWI, SWKS, TASR, V, WY, X, WHR, AAPL, ALK, ALXN, APOL, BMY, BRCM, CAT, CELG, CERN, CHKP, CMCSA, CNI, EMC, EW, GD, HAL, HAS, HOG, ILMN, IM, KLAC, KMB, LLY, LRCX, LXK, MMM, MXIM, MSFT, N, ORLY, PG, RMD, STLD, STT, SWK, TRV, TSCO, TXN, UNP, VRSN, WOOF, YHOO, YNDX, ZION, AMD, C, CSX, DAL, GE, HON, LVS, MS, SCHW, SLB, STI, URI, XLNX, COST, BBBY, BBRY, MU, NKE, PAYX, LULU, PANW, ULTA, MFRM, SPLK,
More than 10% – GOGO, RAX, WFM, GPRO, GPRN, LNKD, BWLD, SWI, N, EW, TSCO, NKE, ULTA, LULU, PANW, MFRM,
Negative Reactions – COST, AMBA, MFRM, GME, CRM, JD, MBLY, SINA, YY, SWKS, FEYE, FSLR, PCLN, QCOM, TRIP, SCTY, SSYS, SUNE, UBNT, Z, ZU, AEM, CHRW, COH, FB, GRMN, KRFT, MDC, MRK, NEM, PNRA, RGR, SLCA, TPX, TWTR, ALTR, AMZN, BA, BTU, CMG, CREE, DECK, DNKN, DOW, EAT, F, GM, IBM, JNPR, KO, LMT, LUV, NDAQ, P, UA, VMW, XRX, YELP, AXP, BAC, COF, EBAY, GOOGL, INTC, JNJ, JPM, KEY, MAT, NFLX, WFC, AZO, ADBE, KKD, CIEN,
More than -10% – GME, CSIQ, FSLR, UBNT, ZU, AEM, P, TPX,
Reversal in progress – PCLN, TPX, KO,
Reversal of Initial Reaction – AMZN, FEYE, SWKS, Z, ADBE, ALTR, ALTR, AXP, AZO, BA, BAC, BTU, CHRW, CMG, COF, COH, CREE, DECK, DNKN, DOW, EAT, EBAY, F, GM, GOGO, GOOGL, GRMN, INTC, JNJ, JNPR, JPM, KEY, KKD, KO, KRFT, LMT, LUV, MAT, MDC, MRK, NDAQ, PNRA, UA, VMW, WFC, XRX,
The SPY Market Forecast is at 68.
___________________
50 out of 100 NDX stocks closed higher on Wednesday.
Leading NDX 100 stocks included: CELG, AAL, GILD, AMGN, ALXN, NFLX, REGN, BIIB, ILMN, YHOO
Lagging NDX stocks included: VIP, AMZN, BIDU, TSCO, KLAC, WFM, LVNTA, PAYX, ROST, MSFT
Leading stocks > +2% on Wednesday: GPRO, QIHU, UAL,
Lagging stocks < -2.0% included: GME, JCP, UPL, FEYE, BBY
Stocks to Watch on Friday
Holding Above 30 DMA = 73
ROST, DLTR, ORLY, TSCO, AAL, BBBY, PCAR, SPLS, INTU, EA, AMAT, WFM, AVGO, WDC, ADI, ALTR, EBAY, LLTC, FOXA, SIAL, BIIB, ADBE, ADP, CHKP, CHTR, CMCSA, CSCO, DISCA, EQIX, FAST, FB, HSIC, INTC, KLAC, KRFT, LBTYA, LVNTA, MNST, NXPI, QCOM, STX, TRIP, TXN, VIAB, VRSK, AKAM, BRCM, CA, CERN, CHRW, COST, CTSH, DISH, FISV, ISRG, LRCX, MAR, MU, MYL, NTAP, SRCL, SYMC, ADSK, CTRX, NVDA, SNDK, DTV, ESRX, EXPD, MSFT, PCLN, SBUX, CTXS
Moving Above 30 DMA = 0
Moving Below 30 DMA = 7
PAYX
Staying Below 30 DMA
AMGN, CELG, ILMN, REGN, VOD, VRTX, YHOO, GILD, MAT, XLNX, MDLZ, AAPL, ALXN, ATVI, SBAC, AMZN, LMCA, SIRI, GRMN, BIDU, GOOG, TSLA, VIP, GMCR, WYNN, NFLX
6-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
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Stocks Pause on Christmas Eve…GPRO Soars…Biotechs Finds Support, Bounce…Merry Christmas
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